Digital services provider ABC Systèmes et Formation has exited France-based marketing platform developer MyElefant in an acquisition by customer engagement software provider Sinch.
Sinch is paying an initial €18.5m ($20.4m) for the company, with cash earnouts of up to €3m potentially available if it meets gross profit targets in the next two years.
Founded in 2010, MyElefant has created a message-based marketing software product that operates across multiple mobile messaging apps as well as via text messaging. Businesses can put together a campaign without substantial amounts of coding and track its campaign through the platform.
ABC Systèmes et Formation had paid an undisclosed amount for a 25% stake in the company in 2013, before Odyssee Venture and BPIfrance invested a further $1.8m three years later.
Oscar Werner, Sinch’s chief executive, said: “Through advanced yet easy-to-use software, MyElefant has successfully shown how next-generation messaging can drive tangible and measurable business outcomes.
“With MyElefant as a part of Sinch, we can offer our global customer base and established ecosystem partners a sophisticated software platform, with powerful real-time analytics, that offers a step-change in customer experience.”
